What does its MDS data sheet have to say?
Just knowing if it’s solid or liquid at room temperature would tell a lot.
Based on appearance it seems unlikely it could legally be called “cheddar” in many jurisdictions. Apparently Brazil isn’t so strict about that sort of thing.
All this said, I’ll bet it tastes good. Wonder if it comes with a straw?
Until recently if you took milk, and removed the cream you could not sell it as "skim milk" unless you added vitamins A and D. You had to sell your pure milk with cream removed as, get this, "imitation milk product".
Velveeta, which this stuff resembles at least visually, is not legally considered cheese because it contains milk protein concentrate which is made from, you guessed it, milk.
Which is also what you make cheese from.
Go figure.